8/20/14

Home Depot drives $1 billion in online sales in Q2

The home improvement e-retailer boosts web sales 38% as customers respond favorably to closer ties between stores and the web.

Stefany Zaroban , Associate Director of Research

One third of The Home Depot Inc.'s online orders are now picked up in stores, and that includes both consumer- and business-related purchases, company executives told analysts yesterday in the chain’s quarterly earnings call.

Shoppers appreciate the convenience of buying online and picking up orders inside stores, helping to drive more than $1 billion in online sales for The Home Depot during the quarter, a 38% increase compared with last year, executives said. The e-retailer offers a slew of ordering options for consumers in addition to buy online, pick up in-store. Online orders can be shipped to shoppers’ local store and returned there.

In the next six months, Home Depot, ranked No. 16 in the Internet Retailer Top 500 Guide, plans to roll out what it’s calling the next generation of its First Phone, though it didn’t elaborate on how the new version is different from the first iteration of device, which it rolled out in a limited fashion in 2012. The First Phone is a mobile device that allows clerks to complete the check-out process for in-store consumers, and to assist them with online orders.

For the period ended Aug. 3, Home Depot reported:

For the first six months of the fiscal year, Home Depot also reported:

Topics:

buy online, pick up in-store, e-commerce, e-commerce sales, Home Depot, omnichannel, Q2 2014 earnings, Top 500

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